Upon conclusion of arbitration proceedings, if the arbitral award requires payment by a Market Participant, the payment must be made within ____ calendar days from the date of the award.

Practice question from NISM Series VII Mock Test 4 — bank. The correct answer is highlighted below with a full explanation.

Options

A

7
15

Correct answer
C

21
D

30

Why this is the answer

The Market Participant must comply with the arbitral award and make the required payment within 15 calendar days, unless the award specifies an earlier date.

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